Red Avenue New Materials Group Second Quarter 2024 Earnings: EPS: CN¥0.28 (vs CN¥0.24 in 2Q 2023)
Red Avenue New Materials Group (SHSE:603650) Second Quarter 2024 Results
Key Financial Results
- Revenue: CN¥793.9m (up 13% from 2Q 2023).
- Net income: CN¥168.7m (up 20% from 2Q 2023).
- Profit margin: 21% (up from 20% in 2Q 2023). The increase in margin was driven by higher revenue.
- EPS: CN¥0.28 (up from CN¥0.24 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Red Avenue New Materials Group Earnings Insights
Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China.
Performance of the Chinese Chemicals industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Red Avenue New Materials Group (1 is a bit concerning!) that we have uncovered.
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About SHSE:603650
Red Avenue New Materials Group
Manufactures and sells chemical materials in China and internationally.
Solid track record with mediocre balance sheet.